I am a CPA in Texas with an MBA from the University of Chicago. I have seen a lot and made many mistakes. Hopefully by now I will have learned something from them. Just as importantly, you may learn something from my mistakes. You can e-mail me by clicking on my "View my complete profile".

Wednesday, July 29, 2009

Banks' Toxic Brew

"The banks stubbornly refuse to understand that they are not the public's masters, but that their favored position in society will exist only so long as they are tolerated by the public. ... But an increasingly impoverished American public may not really care about the long-term implications of radical action, not if they are forced to watch Wall Street bankers pay themselves $700,000 bonuses out of their taxes as they lose their jobs and homes. If the chairman of the [Fed] is wise, he will accept congressional demands for an audit of the central bank and abandon the outmoded Finance First theory of economic development, for if he does not, he may well find the Federal Reserve System being burned down by an angry and irrational American public", my emphasis, Vox Day (VD) at WorldNetDaily, 6 July 2009, link: http://www.wnd.com/index.php?pageId=103143.

Jefferson said, "Banking Establishments are more dangerous than standing armies". Lloyd Blankfein (LB), you fool. Give up the bonuses. If you do when we elect a new Jackson, you might keep your head. Otherwise, you may get Marie Antoinette's treatment. Are you this stupid? You went to Harvard, AB and JD and was no affirmative action admit. What's your excuse? Disagreeing with one thing VD wrote, why would burning the Fed down be "irrational"? It's an instrument of class oppression, bankers use it to oppress non-bankers. Repeal the Federal Reserve Act. Storm our Bastille!

Supposedly a Emporer once asked Confuscius "What do you need to run an empire"? Confuscius responded, "Three things. Military equipment, food and the confidence of the people". "If the Emporer must give up one. Which"? "The military equipment. For if he still has food and the confidence of the people, they will fight for him with rakes and hoes". "If he must give up another, which"? "The food, for when he loses the confidence of the people, he loses his head". LB, the food is almost gone. Do you understand what that means? My previous references to Marie Antoinette and other relevant posts are: 7 November 2007, 26 and 30 November 2008 and 8 June 2009: